Semtech: Fiscal 3Q Earnings Snapshot
CAMARILLO, Calif. (AP) _ Semtech Corp. (SMTC) on Wednesday reported fiscal third-quarter net income of $17.6 million.
The Camarillo, California-based company said it had profit of 26 cents per share. Earnings, adjusted for one-time gains and costs, were 41 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The chipmaker posted revenue of $141 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $139.9 million.
For the current quarter ending in January, Semtech expects its per-share earnings to range from 33 cents to 39 cents.
The company said it expects revenue in the range of $130 million to $140 million for the fiscal fourth quarter.
Semtech shares have increased 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.79, a drop of 6.5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMTC at https://www.zacks.com/ap/SMTC